"Italy Telecom is investing to strengthen its presence in Telecom Argentina and the Argentina", was the first definition of the chief financial officer (CFO) at telephone dialogue with this media from its offices in Italy.
Consulting about the strategic importance that the company has for Italian partners in the Argentina, Mangoni explained that "Telecom Argentina is a solid company and the priority is not redeem dividend but increase the investments of the company."
It was then when confirmed the amount of future investments: "In the next 3 years, Argentina Telecom will invest more than 13 billion pesos (approximately 3.051 million dollars), representing a significant increase over the last years".
The figure that will be invested not only exceed that was used on other occasions, but it exceeds 30% announced by the President of the Italian company, Franco Bernabe, during his visit to the Argentina.
At that time, the Italian Executive had said that it had come to Buenos Aires by "engagement with the country and Telecom Argentina". "It is a very important country in the telecommunications sector and the first in the region," he had indicated at the time that had located it "as one of the countries of Latin America with the greatest potential for growth".
With regard to new investments, is not detailed yet the timetable or the precise destination of resources, it is possible that it is it used for access to broadband, a service that grows day by day in the Argentina.
The latest figures indicate that access to broadband in the last year grew by 37.5%, while residential Internet access did by 31.7 percent. While the number of mobile, fixed access along a the of band broadband, it reached the 25.5 million, 10% over last year.
According to the last balance sheet submitted by the company in Argentina, the Telecom Group recorded net sales consolidated by 13.386 million Argentine pesos (approximately US $3.141.820.000) during the first nine months of 2011, i.e. 28% more for the same period of last year.
On September 30 this year, net income was 1,818 million pesos (more than us $426 million) and equity amounted to 7.187 million pesos (more than US $1.686 million), while the company reached an active net financial position of $2.025 million (more than US $475 million), $1,175 million (more than US $275 million) more than in the first 9 months of 2010.